Shara Senderoff and Aaron McDonald, the co-founders of AI and metaverse company Futurverse, have recently launched a new venture fund and studio called “Born Ready.” The fund, which amounts to $50 million, aims to invest in emerging technology ventures that demonstrate collaboration potential with either Futurverse or the metaverse blockchain platform, The Root Network. In an announcement made on August 3rd, Senderoff and McDonald revealed that Born Ready has already made investments in several firms including FCTRY Lab, Power’d Digital, Polemos, and Walker Labs.
Prior to this venture, Senderoff founded Raised in Space, a blockchain venture fund that has provided investments to over 20 crypto startups. McDonald, on the other hand, has experience as the co-founder and managing director of NetX Fund, which made investments in more than 60 portfolio companies. The co-founders have also expressed plans to launch an accelerator program in the near future.
This news comes after Futurverse successfully raised $54 million in a Series A funding round led by 10T Holdings, with contributions from Ripple Labs. The funding allowed Futurverse to consolidate 11 metaverse companies into a single ecosystem and develop the Futureverse Platform, The Root Network. Developers have expressed that these funds will be used to create metaverse decentralized applications on the blockchain.
Meanwhile, it has been reported that Mark Zuckerberg’s Meta and its metaverse subsidiary, Reality Labs, have suffered losses exceeding $40 billion in the second quarter of 2023. However, Zuckerberg remains steadfast in his belief that the future will be dominated by smart glasses, and digital devices will become more immersive, resembling virtual reality.
In a different development, funding for Web3 and crypto venture capital has experienced a significant decline of 79% year-over-year, reaching $779 million across 62 deals in June. The majority of new funding has been directed towards blockchain infrastructure projects, with only a fraction allocated to nonfungible tokens projects.
Senderoff took to Twitter to express her excitement about the launch of Born Ready, expressing gratitude for her co-founder McDonald and their shared passion for making the unimaginable happen. She also referred to the new fund and studio as something special, hinting at their ambitious plans for the future.
This latest endeavor by Senderoff and McDonald demonstrates their commitment to supporting and investing in innovative technology ventures that can drive the development and growth of the metaverse and AI realms. As the metaverse continues to gain traction and capture the attention of both investors and tech enthusiasts, initiatives like Born Ready are crucial for fueling further advancements in this emerging field.
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